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According to Odaily, Arkham monitoring revealed that crypto KOL and Instagram influencer Andrew Tate had his trading account on Hyperliquid forcibly liquidated eight times in the past 24 hours. Data shows that after Andrew Tate deposited $100,000 into the account, he established a Bitcoin long position of approximately $3.8 million and a Bitcoin short position of about $1 million, creating a high-leverage hedged strategy. However, due to significant Bitcoin price fluctuations, market movements repeatedly deviated from his positions, leading to continuous liquidations.

⑴ Brent crude oil’s physical price continued to decline this week. The premium of North Sea Forties crude over spot Brent fell to $0.35 per barrel on Thursday, the lowest since early May and a sharp reversal from the record $21.50 per barrel premium set in April. ⑵ The spot Brent benchmark price dropped to $77.27 per barrel on Thursday, far below the $140 peak reached on April 7, which was the highest since 2008. The collapse of the physical premium reflects a rapidly fading concern about supply disruptions from the Middle East. ⑶ After the US and Iran signed a temporary agreement, traffic through the Strait of Hormuz resumed. Previously, the strait had been almost entirely closed since the outbreak of conflict at the end of February, while pre-war daily flows reached up to 20 million barrels. Expectations of supply returning are reshaping pricing logic. ⑷ Brent futures and other contract varieties also declined this week. Traders described the sharp drop in physical prices as “the trapdoor has swung open.” Oil broker analysts pointed out this reflects the market’s view that rebounding supply will drive a return to surplus. ⑸ The International Energy Agency stated this week that after the impact of the strait closure fades, the market will enter significant surplus in 2027. Short-term Brent swap contracts have also shifted to a discount. The premium structure, which reached $29.40 in April, has been completely reversed.

According to Odaily, as potential IPOs of tech companies like SpaceX, OpenAI, and Anthropic draw near, California is expected to see a wave of IPO-related tax revenue growth. However, both the actual size and predictability of this increase remain highly uncertain. Reportedly, SpaceX going public could become one of the largest tax revenue sources in California's history, but due to its unique employee equity incentive structure (RSU single-trigger vesting mechanism) and long-term prepayment tax arrangements, part of the tax revenue has already been realized before the IPO. This weakens the traditional "concentrated tax surge from IPOs" model. The California Department of Finance and the Legislative Analyst's Office (LAO) noted that, compared to Facebook's 2012 IPO which brought in about $1.3 billion in tax revenue, today’s mega IPOs theoretically offer even greater tax potential. However, due to complex employee equity structures, the early realization of stock sales, and the increased use of tax-avoidance tools, actual revenue may be more dispersed and difficult to predict. Overall, while California stands to benefit from a "super IPO cycle," the tax structure is shifting from "concentrated one-time windfalls" to "long-term, distributed realization," making fiscal gains more volatile and uncertain. (CNBC)